Chinese bank to expand into Greek projects

Following a meeting on Tuesday in Athens with China Development Bank chairman Hu Huaibang, Bank of Greece Governor Yannis Stournaras expressed satisfaction with CDB’s intention to expand its presence in Greece, mainly via the financing of infrastructure projects.

The meeting followed the signing of a memorandum of understanding between Greece’s central bank and CDB last July. The MoU provides for the promotion of bilateral relations and economic and trade cooperation between China and Greece.

Hu noted that CDB – one of the world’s biggest development lenders – sees Europe and its expansion to international markets as priorities, adding that it has created special funds for the financing of enterprises in several European countries including Greece.

During the meeting the CDB chief also noted that the Chinese lender intends to expand its presence in Greece through cooperation with Greek banks.

In a statement, BoG highlighted that this year marks 45 years since Greece and China launched diplomatic relations.